The Nets have finalized their buyout of Dwight Howard‘s contract, paving the way for the veteran center to join the Wizards, Adrian Wojnarowski of ESPN tweets. Howard will sign a two-year, $11MM contract that will include a player option for the second year, Wojnarowski adds.
Howard had one year and $23,819,725 remaining on his contract when he was dealt by the Hornets to the Nets, who had no intention of keeping him. The trade was agreed to last month but wasn’t officially announced until Friday.
By adding Howard, the Wizards now have 14 players with guaranteed contracts. Their projected luxury tax bill has increased from $11.5MM to $18.3MM, ESPN’s Bobby Marks tweets.
Howard will be worth any tax penalties if Washington can advance deeper in the postseason. The Wizards were bounced by the top-seeded Raptors in the first round of the Eastern Conference playoffs this past season.
The Wizards will make Howard their starting center after dealing Marcin Gortat to the Clippers for guard Austin Rivers. Howard averaged 16.6 PPG and 12.5 RPG in his lone season with the Hornets.
The buyout gives the Nets a projected $9-$11MM in cap space, Marks adds.
Great deal for Washington, just what they needed.